Inflation Inspires New Wedding Trends

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Inflation Inspires New Wedding Trends

There’s one word that seems to pop up around every corner, from the automobile industry to luxury travel and from housing prices to fast food. Inflation has made an impact across every economic sector in Canada, including in the wedding industry. During the pandemic, many people put their plans for getting married on hold, and as soon as the government eased lockdown restrictions, people rushed to catch up on missed opportunities and plans. For couples wanting to throw the wedding of their dreams, inflation has pushed prices higher than ever before. Here’s how the inflation problem in Canada is inspiring new wedding trends.

Cost of Inflation

At first glance, inflation doesn’t look complicated, but investigating the how and why reveals an important web of factors that created the perfect storm for today’s price increases. Inflation in and of itself is not a bad thing, and it isn’t unnatural. Over time, the costs of goods and services increase, and wages must rise to keep up pace. The issue is that the unique context that the COVID-19 pandemic created gave rise to a level of inflation that should have happened slowly over many years. 

During the pandemic, the demand for certain commodities fell while for others, it shot up. Along with this imbalance in the demand for goods and services, supply chains screeched to a halt due to global lockdown restrictions. Since those restrictions weren’t natural but governmentally imposed, as soon as governments changed their minds, supply chains had to race forward to catch up.

There has been a shortage of labor as well, for the same reason. Businesses eventually pass these pain points down to consumers in the form of higher prices. In the post-pandemic economy, Canadians are desperate to regain a sense of normalcy, but to achieve that, they have to decide how much they’re willing to pay for what they want.

Top Wedding Costs for Couples

It’s no secret that weddings are expensive, as there are several high costs that couples have to face when preparing to get married. Inflation has only made this problem worse. The areas that hit couples hard are: 

  • Rentals
  • Venues
  • Catering
  • Flowers
  • Decorations
  • Planning services
  • Airfare and travel
  • Fuel costs

In past years, the average cost of a wedding hovered around $30,000. With inflation and the cost of labor skyrocketing, that price tag could easily hit $50,000 in the next five years if things don’t change. Canada’s central bank has been hitting back by increasing interest rates, but the trickle-down effect might take a while to reach the wedding industry. 

New Solutions and Trends To Limit Cost

The high cost of putting together a wedding is inspiring couples to get creative and embrace new solutions and trends. To start, many couples are deciding against overseas destination weddings. Those who still want a change of scenery are embracing what Canada has to offer and choosing stunning natural backdrops within the country, such as local beaches, mountains, and more.

Another solution for couples is the concept of having a non-traditional wedding. While some people still want to get married in a church, there are so many more options available for people who aren’t worried about maintaining the religious aspect. From walking down the aisle through rows of books at a gorgeous public library to having a reception at a local brewery, engaged couples are really pulling out all the stops to save money. Other cost-saving wedding trends are:

  • Weekday ceremonies
  • Potluck reception meals
  • Upcycled wedding decorations
  • Semi-formal wedding attire

Wedding vendors are struggling during this busy boom period, but it’s consumers who are hit hardest by inflation. Fortunately, obstacles make people more creative than ever before, which is exactly what is happening for couples planning their wedding events. 

Inflation Inspires New Wedding Trends

There’s one word that seems to pop up around every corner, from the automobile industry to luxury travel and from housing prices to fast food. Inflation has made an impact across every economic sector in Canada, including in the wedding industry. During the pandemic, many people put their plans for getting married on hold, and as soon as the government eased lockdown restrictions, people rushed to catch up on missed opportunities and plans. For couples wanting to throw the wedding of their dreams, inflation has pushed prices higher than ever before. Here’s how the inflation problem in Canada is inspiring new wedding trends.

Cost of Inflation

At first glance, inflation doesn’t look complicated, but investigating the how and why reveals an important web of factors that created the perfect storm for today’s price increases. Inflation in and of itself is not a bad thing, and it isn’t unnatural. Over time, the costs of goods and services increase, and wages must rise to keep up pace. The issue is that the unique context that the COVID-19 pandemic created gave rise to a level of inflation that should have happened slowly over many years. 

During the pandemic, the demand for certain commodities fell while for others, it shot up. Along with this imbalance in the demand for goods and services, supply chains screeched to a halt due to global lockdown restrictions. Since those restrictions weren’t natural but governmentally imposed, as soon as governments changed their minds, supply chains had to race forward to catch up.

There has been a shortage of labor as well, for the same reason. Businesses eventually pass these pain points down to consumers in the form of higher prices. In the post-pandemic economy, Canadians are desperate to regain a sense of normalcy, but to achieve that, they have to decide how much they’re willing to pay for what they want.

Top Wedding Costs for Couples

It’s no secret that weddings are expensive, as there are several high costs that couples have to face when preparing to get married. Inflation has only made this problem worse. The areas that hit couples hard are: 

  • Rentals
  • Venues
  • Catering
  • Flowers
  • Decorations
  • Planning services
  • Airfare and travel
  • Fuel costs

In past years, the average cost of a wedding hovered around $30,000. With inflation and the cost of labor skyrocketing, that price tag could easily hit $50,000 in the next five years if things don’t change. Canada’s central bank has been hitting back by increasing interest rates, but the trickle-down effect might take a while to reach the wedding industry. 

New Solutions and Trends To Limit Cost

The high cost of putting together a wedding is inspiring couples to get creative and embrace new solutions and trends. To start, many couples are deciding against overseas destination weddings. Those who still want a change of scenery are embracing what Canada has to offer and choosing stunning natural backdrops within the country, such as local beaches, mountains, and more.

Another solution for couples is the concept of having a non-traditional wedding. While some people still want to get married in a church, there are so many more options available for people who aren’t worried about maintaining the religious aspect. From walking down the aisle through rows of books at a gorgeous public library to having a reception at a local brewery, engaged couples are really pulling out all the stops to save money. Other cost-saving wedding trends are:

  • Weekday ceremonies
  • Potluck reception meals
  • Upcycled wedding decorations
  • Semi-formal wedding attire

Wedding vendors are struggling during this busy boom period, but it’s consumers who are hit hardest by inflation. Fortunately, obstacles make people more creative than ever before, which is exactly what is happening for couples planning their wedding events. 

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